Alation, a Redwood City, CA-based leader in enterprise data intelligence solutions, announced that it raised $123 million in a Series E financing, bringing its total raised $340 million to date. Elevating the company’s current valuation to more than $1.7 billion amid the volatile late-stage software-as-a-service (SaaS) growth equity market.
The round was led by Thoma Bravo, Sanabil Investments, and Costanoa Ventures, with participation from a new investor, Databricks Ventures.
Existing and other investors also participated, including Dell Technologies Capital, Hewlett Packard Enterprise (HPE), Icon Ventures, Queensland Investment Corporation, Riverwood Capital, Salesforce Ventures, Sapphire Ventures, and Union Grove.
The raised capital will accelerate Alation’s growth and global expansion while driving strategic product innovation as the demand for data intelligence platforms surges.
“We raised $123 million because we wanted to continue to invest and give our customers the world-class data intelligence experience they deserve,” said Satyen Sangani, CEO and co-founder of Alation. “The confidence from our investors reinforces that Alation is the leading data intelligence platform, and we are well positioned to capitalize on opportunities in our expanding market.”
He continued, “The modern enterprise needs data in good times... and even more so in bad. With a challenging economic outlook, companies are looking to their data for direction, to drive operational efficiencies, and to gain or maintain a competitive advantage. Alation makes that happen consistently, with clients increasing their spend year-over-year. Our calling cards are consistent ROI, engagement, and adoption. This latest funding round will help us go even faster, so more organizations can harness the power of their data and convert this wealth of information into usable, trusted insights.”
Company: Alation, Inc.
Raised: $123.0M
Round: Series E
Funding Month: November 2022
Lead Investors: Thoma Bravo, Sanabil Investments, and Costanoa Ventures
Additional Investors: Dell Technologies Capital, Hewlett Packard Enterprise (HPE), Icon Ventures, Queensland Investment Corporation, Riverwood Capital, Salesforce Ventures, Sapphire Ventures, and Union Grove
Company Website: https://www.alation.com/
Software Category: Data Intelligence Solutions
About the Company: Alation is an enterprise data intelligence solution, including data search & discovery, data governance, data stewardship, analytics, and digital transformation. Alation’s initial offering dominates the data catalog market. Alation helps nearly 450 businesses, including AbbVie, Allianz Global Investors, American Family Insurance, Autozone, Cisco, Draft Kings, Exelon, Fifth Third Bank, Finnair, General Mills, Munich Re, NASDAQ, Parexel, Pfizer, Salesforce, Virgin Australia, and Vistaprint, foster a data culture, enhance decision-making, and achieve business outcomes0 Headquartered in Silicon Valley, Alation has been named to Inc. Magazine’s Best Workplaces list three times, is a 2022 UK’s Best Workplaces™ for Women and has been recognized as a 2022 UK’s Best Workplaces™ in Tech.
Source: https://www.alation.com/press-releases/alation-raises-series-e-funding/